Q32 Bio Inc. (NASDAQ:QTTB) Receives Consensus Recommendation of “Hold” from Analysts

Q32 Bio Inc. (NASDAQ:QTTB) has received a consensus rating of “Hold” from the nine research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $12.1667.

A number of equities analysts have recently issued reports on QTTB shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Q32 Bio in a research note on Saturday, September 27th. Wall Street Zen raised Q32 Bio from a “sell” rating to a “hold” rating in a research note on Friday.

Hedge Funds Weigh In On Q32 Bio

Hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new position in Q32 Bio in the 4th quarter valued at approximately $26,000. Ameriprise Financial Inc. purchased a new position in Q32 Bio in the 4th quarter valued at approximately $53,000. Marshall Wace LLP purchased a new position in Q32 Bio in the 2nd quarter valued at approximately $25,000. Squarepoint Ops LLC purchased a new position in Q32 Bio in the 4th quarter valued at approximately $65,000. Finally, Acadian Asset Management LLC purchased a new position in Q32 Bio in the 1st quarter valued at approximately $50,000. 31.32% of the stock is owned by hedge funds and other institutional investors.

Q32 Bio Stock Performance

Shares of QTTB stock opened at $2.07 on Monday. The company has a market cap of $25.25 million, a price-to-earnings ratio of -0.48 and a beta of 0.11. The stock has a 50 day simple moving average of $1.87 and a 200-day simple moving average of $1.82. Q32 Bio has a 12-month low of $1.35 and a 12-month high of $53.17.

Q32 Bio (NASDAQ:QTTB) last issued its earnings results on Wednesday, August 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.36. On average, equities analysts forecast that Q32 Bio will post -12.32 earnings per share for the current fiscal year.

About Q32 Bio

Q32 Bio Inc, a clinical-stage biotechnology company, develops biologic therapeutics to restore healthy immune balance in patients with autoimmune and inflammatory diseases driven by pathological immune dysfunction in the United States. Its lead product candidate is ADX-097, a humanized anti-C3d monoclonal antibody fusion protein to restore complement regulation, which has completed Phase I clinical trial for the treatment of renal and other complement-mediated diseases of high unmet need, including lupus nephritis, immunoglobulin A nephropathy, complement component 3 glomerulopathy, and anti-neutrophil cytoplasmic antibody-associated vasculitis.